The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of produc… - Theodore Schultz
" "The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of production but instead simply happened to occur over time. This view is as a rule implicit in the notion of technological change.
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About Theodore Schultz
Theodore William "Ted" Schultz (30 April 1902 – 26 February 1998) was an American economist and chairman of the University of Chicago Department of Economics, who was the 1979 winner, jointly with William Arthur Lewis, of the Nobel Memorial Prize in Economic Sciences.
Also Known As
Native Name:
Theodore William Schultz
Alternative Names:
Theodore W. Schultz
•
Teodoro Guillermo Schultz
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Additional quotes by Theodore Schultz
Much of what we call consumption constitutes investment in human capital. Direct expenditures on education, health, and internal migration to take advantage of better job opportunities are clear examples. Earnings foregone by mature students attending school and by workers acquiring on the-job training are equally clear examples.
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